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Dow slides 300 points to cap off first weekly decline in a month amid inflation worries

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, New York, US, March 3, 2020. Andrew Kelly/Reuters US stocks fell on Friday and recorded their first weekly loss in a month, with stocks dropping about 1% as investor concerns about rising inflation continued to weigh on prospects of an economic recovery.On Thursday, Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen Both expressed concerns at the current pace of rising inflation and expect the trend to continue over the next few months before cooling down as supply chain disruptions are resolved.If inflation doesn't cool off soon, the Fed may be forced to hasten its hawkish policies like rolling back monthly bond purchases and raising interest rates, which could hurt risk assets like s...
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US stocks gain as jump in retail sales in June points to steady pace of economic recovery

Xinhua/Wang Ying/ Getty Images US stocks edged higher on Friday amid June retail sales data that showed a surprise increase of 0.6%, besting expectations of a 0.4% decline. US consumers spent $621 billion at retail stores in June, signaling that the ongoing economic recovery from the pandemic is accelerating as more people get vaccinated from COVID-19.The move higher in stocks came a day after a market sell-off that was spurred by investor concerns over rising inflation. Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen Both expressed concerns at the pace of rising inflation and expect the trend to continue over the next few months before cooling down as supply chain disruptions are resolved.Here's where US indexes stood shortly after the 9:30 am ET open on Friday: ...
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S&P 500 closes at record high in best week since February as investors brush off inflation concerns

Traders work on the floor of the New York Stock Exchange (NYSE) Spencer Platt/Getty Images US stocks closed higher on Friday with the S&P 500 notching a record high. The benchmark index's enjoyed its largest weekly gain since February. Stocks pushed higher after the latest batch of economic data showed an unexpected stagnation in personal spending last month and inflation ticking higher but less than expected. Core PCE inflation, which strips out volatile food and energy prices, jumped 0.5% in May, coming in below the median estimate of 0.6%. The gauge gained 3.4% year-over-year. The Federal Reserve uses the core measure as its primary gauge of inflation and has indicated will let inflation run above 2% for some time to facilitate a stronger labor-market recovery. Here's where US...